Camber Energy Inc (NYSEAMERICAN: CEI) is having a relatively strong start to the trading session this morning. However, if you’re looking for press releases or SEC filings that would lead to the gains, you may be disappointed. There hasn’t been any news released for about a month now, almost a month to the day. That’s actually a clue to why the stock is running. Today, we’ll talk about why CEI is headed up, what we’re seeing from the stock, and what we’ll be watching for ahead.
Why CEI Is Making Its Way For The Top
As mentioned above, Camber Energy is finding its way upward. However, there’s no news out there that would suggest these types of gains. So, what’s the big deal? Well, it has to do with an update that investors are expecting soon.
Camber Energy recently completed what it dubbed the Panhandle acquisition. The acquisition included several wells over the course of several leases in Hutchinson County, Texas.
Upon the acquisition CEI said that it would be providing monthly updates. The most recent of these updates came on October 15, 2018, when the company said that since the closing of the acquisition, it had worked over 39 wells on 4 different leases.
Today is November 14, 2018. Should the company keep up with its monthly update promise, the month is up tomorrow. So, investors are expecting that they will receive an update with regard to the company’s progress in the Texas Panhandle.
Should this update be released, and be a positive one, CEI could fly. However, if the company drags its feet on updating progress, we could see declines ahead. Nonetheless, in the meantime, investors remain on the edges of their seats, hoping for the best.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Camber Energy, while no news has been released, investors are preparing for news that is expected to come as soon as tomorrow, and with positive expectations, they’re pushing the stock upward. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:59), CEI is trading at $0.18 per share after a gain of $0.01 per share or 5.88% so far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CEI. In particular, we’re interested in following the story surrounding the company’s work in the Panhandle. Should all go well, this acquisition could prove to be a highly accretive one. With the update expected as soon as tomorrow, this stock could run! Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!